Arnhold LLC Grows Position in Organon & Co. (NYSE:OGN)

Arnhold LLC grew its stake in Organon & Co. (NYSE:OGN) by 31.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,330 shares of the company’s stock after purchasing an additional 19,667 shares during the period. Arnhold LLC’s holdings in Organon & Co. were worth $1,187,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Fruth Investment Management lifted its position in shares of Organon & Co. by 1.9% during the 4th quarter. Fruth Investment Management now owns 37,040 shares of the company’s stock valued at $534,000 after buying an additional 700 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Organon & Co. by 15.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 6,032 shares of the company’s stock valued at $105,000 after purchasing an additional 828 shares during the last quarter. New Mexico Educational Retirement Board raised its stake in Organon & Co. by 7.3% in the 3rd quarter. New Mexico Educational Retirement Board now owns 13,268 shares of the company’s stock valued at $230,000 after purchasing an additional 900 shares during the last quarter. Mackenzie Financial Corp raised its stake in Organon & Co. by 7.6% in the 3rd quarter. Mackenzie Financial Corp now owns 13,148 shares of the company’s stock valued at $214,000 after purchasing an additional 932 shares during the last quarter. Finally, Beddow Capital Management Inc. raised its stake in Organon & Co. by 1.8% in the 3rd quarter. Beddow Capital Management Inc. now owns 52,879 shares of the company’s stock valued at $918,000 after purchasing an additional 946 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 1.5 %

Organon & Co. stock traded down $0.29 during midday trading on Tuesday, reaching $18.61. 2,338,097 shares of the stock traded hands, compared to its average volume of 2,701,625. The company has a 50-day simple moving average of $18.14 and a two-hundred day simple moving average of $15.70. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.79. The firm has a market cap of $4.79 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.82.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, February 15th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Equities research analysts anticipate that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.02%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s payout ratio is presently 28.00%.

Insider Activity

In related news, insider Kirke Weaver acquired 2,720 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the purchase, the insider now owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

OGN has been the subject of several recent research reports. Piper Sandler increased their price objective on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group raised their target price on Organon & Co. from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.